住房逆抵押贷款定价分析

The Analysis of the Reverse Mortgage Pricing

本文从住房逆抵押贷款具有期权产品特性出发,将布莱克—斯科尔斯期权定价模型运用于住房逆抵押贷款利率定价,将逆抵押贷款定价问题转换为隐含期权的定价问题,提供了独特的定价思路和方法,最终推导出住房逆抵押贷款的定价模型,并说明了该模型的使用方法。

The paper analyzes the features and nature of the reverse mortgage （RM）, and discovers the essential option product feature of RM. The option feature will be the nature and core value of RM and the foundation of the further study, The paper provides the specific way of thinking and method in RM pricing, and transfers the pricing of RM into pricing the embedded option in RM. Finally, we get RM pricing model, and then explain how to use this model in RM pricing.